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Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index (BDI) has stayed lull at 1,439 points the lowest it’s been since April of 2009 and October of 2008. Still, yesterday, the capesize index lost an additional 0.31%, while the Panamax segment fell by 1.87 percent.
The only “survivor” of the market was the smalle handysize segment which yesterday gained 1.05%.
According to Paris-based shipbroker Barry Rogliano Salles (BRS), dry bulk rates kept falling, mainly as a result of weather-related problems affecting the short-term outlook, and newbuilding deliveries the longer-term picture.
“Rising commodity prices indicate there is still good demand for product, which suggests newbuilding deliveries are the main issue affecting rates. After two weeks of 2011, 20 new Capes have been delivered, 9 Panamaxes, 28 Supramaxes, and 21 Handysizes, indicating the pace of delivery is increasing. In the FFA market, 2H 2011 is now trading at around US$21,000 per day compared to US$24,000 six months ago” said the shipbroker. Regarding the beleaguered Capesize market, it’s been another period of softening rates, with the BCI losing an additional 15% last week, with the Cape 4TC, at just under $9,700, being now below the time charter equivalent for all the other bulk sizes. “Players reported a sharp drop in Australian business, with coal operations still disrupted due to weather factors, and a lacklustre demand for ore. In the period market, it was reported that a 161,000 tonner was taken for 3-5 months at US$13,000 per day. However the sole one-year charter was signed at a BCI index-linked rate. On Monday however the BCI lost just 5 points, raising hopes among owners that the market may be bottoming out” said the report.
All this freight rate saga has altered things in the second hand sale and purchase market. According to BRS “the recent fall in freight rates has created a gap between Buyers and Sellers when it comes to prices, resulting in a very quiet S&P market. We expect this to last for the next few weeks until maybe after the Chinese New Year. This week's S&P menu is all about ‘age’, as in ‘overaged’, and ‘old age’ etc. Arcelor Mittal have sold their Panamax ‘Kirti’ (68,000 dwt, built 1986 in Japan) to Chinese buyers for about US$10m. We understand that this is a December 2010 sale and that the vessel is due for SS & DD in April 2011, just after delivery to the buyers.
Excel Maritime of Greece have sold their Handymax ‘Marybelle’ (43,000 dwt, built 1987 in Japan) to Bangladeshi buyers for a price in the region of US$10.8m, which also seems to
be a December 2010 sale. In probably the most active week involving Egyptian interests we note that the National Navigation Co of Egypt have sold their sister Handies ‘Alwadi Al Gadeed’ and ‘Wadi Halfa’ (32,000 dwt, built 1985 in South Korea) for about US$7m each. At the same time Egyptian buyers have reportedly agreed a price in the region of US$6m for the Greek owned ‘Androniki’ (30,000 dwt, built 1984 in Japan) - yielding a nice return for the Seller who purchased the ship back in March 2009 as the ‘Manora Naree’ for US$2.9m from Precious in Thailand” concluded BRS.
In total, Piraeus-based shipbroker Golden Destiny reported 35 sales (including demolition activity) during the course of the previous week. “In the secondhand market, 27 vessels were reported to have changed hands this week equalling a total amount of money invested in the
region of US$ 1,3 million, with 6 transactions reported for an undisclosed price. In terms of reported number of transactions, the S&P activity has been marked with a 28.5% positive w-o-w change and a 31% negative change comparable with previous year’s weekly S&P activity. The tanker sector attracted most attention, with an investment capital of $ 658,744 around 50% share of the total invested capital in the S&P secondhand market.
In the demolition market, 8 vessels reported to have been headed to the scrap yards of total deadweight just 310,651, with India attracting most activity. Despite the attractive price levels above 450 $/ldt and even surpassing the 500 $/ldt barrier, the reported transactions in terms of number of vessels heading the scrap yards remains at similar levels of last week. The Greek (but not greek based) presence has been noticed this week in 4 transactions reported in the secondhand and one in the newbuilding market. The preference in the secondhand market was towards the chemical tanker sector and a passenger vessel of 1585 passenger capacity, while the total invested capital was region $ 43 mil. In the newbuilding market the greek presence was noticed in the panamax bulkcarrier sector, with Safe Bulkers announcing to have contracted the subject vessel at region $ 41.7 mil” said Golden Destiny.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
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